https://www.taxtmi.com/caselaws?id=341092 The High Court upheld the Tribunal's decision to rely on a previous order, emphasizing the consistent method of accounting. It found the Tribunal's order sustainable, noting the application of mind and provision of reasons. The deletion of under-valuation of closing stock without a revised return was upheld, as the Assessing Officer's addition was deemed unjustified. The Court confirmed consistency with Supreme Court judgments and dismissed the appeal without costs, emphasizing the importance of adhering to established practices and providing adequate reasons in judicial orders. en-us Mon, 20 Mar 2017 00:00:00 +0530 Thu, 31 May 2018 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341092 The High Court upheld the Tribunal's decision to rely on a previous order, emphasizing the consistent method of accounting. It found the Tribunal's order sustainable, noting the application of mind and provision of reasons. The deletion of under-valuation of closing stock without a revised return was upheld, as the Assessing Officer's addition was deemed unjustified. The Court confirmed consistency with Supreme Court judgments and dismissed the appeal without costs, emphasizing the importance of adhering to established practices and providing adequate reasons in judicial orders. Case-Laws Income Tax Mon, 20 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341092